Notes to SEFA
Title: NOTE 3 – PRIOR YEARS’ EXPENDITURES
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards and OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowed. Assistance Listing numbers (“AL No.”) are provided when available.
De Minimis Rate Used: N
Rate Explanation: Cupertino Community Housing for the Disabled, Inc. elected not to use the 10% de minimis indirect cost rate.
The accompanying Schedule includes $1,259,803 in expenditures from prior years for which continuing
compliance is required.